The Top 4 Airlines of China Earned over 11.8 Billion Yuan in the Third Quarter
Date Posted：2011-11-11
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Source：Original site
On Oct 31, China Eastern Airlines released its third quarter report of 2011. Up till now, all the 4 airlines listed in A-Market have released their financial reports of the third quarter. In this quarter, Air China, China Southern Airlines, China Eastern Airlines and Hainan Airlines together made a net profit of 11.8 billion yuan(equals to around 1.86 billion U.S. dollars), despite of some unfavorable external factors, such as high oil price, challenge posted by High-speed railway, European debt crisis ect.
Traditionally, the third quarter is the busy season for airlines. Last year, global economic situation turned better. Under this background, the domestic listed airlines increase their profit in the third quarter. The profit of the third quarter of China Southern Airlines, Air China, and China Eastern Airlines respectively reached 3.041 billion yuan (equals to around 0.48 billion U.S. dollars), RMB5.167 billion yuan (equals to around 0.814 billion U.S. dollars)and RMB3.155 billion yuan (equals to around 0.498 billion U.S. dollars). The net profit of China Airlines and China Eastern Airlines respectively increased 483.62% and 13524.45% compared with the same period of last year.
In the third quarter, the net profit of Hainan Airlines increased at a double digits rate, the growth rates of China Eastern Airlines and Hainan Airlines respectively were 4.85% and 2.99%, and the growth rate of China Airlines even fell. It must be pointed out that the growth rates are conducted on the basis of their extraordinary performance of last year and these listed airlines still make lots of money. Take the finance reports China Airlines and Hainan Airlines released on Oct 27 for example, it shows that the net profits of these two reached 3.8 billion yuan (equals to around 0.60 billion U.S. dollars) and 3.132 billion yuan(equals to around 0.494 billion U.S. dollars), which equaled to or exceeded their total profit of the previous two months. Hainan Airlines’ net profit of third quarter ranked the third of the 4 listed airlines, but its 1.608 billion RMB profit is more than twice profit (the 0.67 billion yuan)of the first half of this year. China Eastern Airlines achieved a new high level with the total profit of 3.308 billion yuan (equals to around 0.52 billion U.S. dollars) even without the effect of Shanghai Expo 2010.
According to their third quarter reports, the total profit of the four airlines reached 21.788 billion yuan (equals to around 3.434 billion U.S. dollars) till this quarter.
